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of a sustained recovery. i'm ali velshi. this is "your money" and i'm going to show you the damage america could do to itself if washington allows us to go over the fiscal cliff. unemployment in the u.s. which has come down to to 20.9%, it could go up another 9%. according to a new research new york post poll, you clearly understand the danger of this fiscal cliff. 50% say it will have a major effect on the economy, 21% say a minor effect, 2% no effect, 10% say they don't know, which is why you're watching this right now. president obama says they're centering around increasing tax on the wealthy which will go a good way in increasing the revenue that he wants to raise in the next decade in an attempt to reduce the federal deficit. he wants to reinstate the bush tax cut which goes to the top 2% of earners. that would jump from 36% to 39%. he likes to say that's where it was during the clinton years. the second one would go from 36% to 39%. he's been focusing on this specific number since his reelection which suggests he may compromise on the actual rates in order to get a deal. there are other t
education the vast majority of what we do in america k-12 higher education is done by public institutions. it's done by public institutions that are run by states. a lot of other work including most charter schools are nonprofits or famous institutions like stanford and harvard and yale and princeton. and then, however, there's a substantial swath of activity that is for-profits, both for-profits that run schools or colleges. there is also for-profits that sell everything from pencils to paper to textbooks, to curricula, to professional development and school systems and universities and colleges. we don't often think about that. we don't often think about what the upsides, what are the downsides, how does that play out and that's what we really want to get into today. for instance, just recently our friends at parent revolution said, you know, when thinking about the parent trigger that we, you know, there's a need to regulate. we need to think about where to draw the lines and what kind of operators to permit, they choose not to encourage, for-profits be permitted to participate because
between the president and congressional leaders. could their plan be the key to stopping america from going over the fiscal cliff? this exclusive event is next right here on this special edition of the "closing bell." iy stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> all right. welcome back. we have a hot show for you today. we are getting down to the brass tax on the fiscal cliff tomorrow. president obama and congressional leaders meet face to face with the clock ticking to new year's on the fiscal cliff. for nearly two years, the one plan that has gotten the most support among those outside of washington and even inside has been the simpson/bowles plan. the two, of course, chaired president obama's deb
security committee, new york republican peter king. then where does america stand on the verge of a second obama term in office? the economy, the fiscal cliff talks, the president's priorities in the next four years. our roundtable is here. david brooks of "the new york times." msnbc's reverend al sharpton. former ceo of hewlett-packard carly fiorina >> historian and film maker ken burns. and nbc chief foreign affairs correspondent andrea mitchell. and we'll here from representative gregory meeks this morning as we check in on some of the hardest-hit victims of hurricane sandy and see how they offered thanks this weekend while surrounded by destruction. >>> from nbc news in washington, the world's longest-running television program, this is "meet the press." with david gregory. >>> president obama doing his part for the economy over the weekend out holiday shopping as part of small business saturday, picking up several children's book at an independent bookstore iypÑarlington. >>> meanwhile, uncertainty in the middle east. more clashes in egypt over the weekend as police use tear gas this
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in and play this kind of a game when everything has changed in america and this time everything has changed because it's all coming to pass on december 31sst and grover babe is losing a person a day and he knows it. so what does he use to cover that? cutesies. little smart alecs. i know that. i don't know who else does that. i haven't done that. he is becoming irrelevant. and you can see it in his eyes. he knows the game is up. because good people of good faith have decided that instead of being republicans, or democrats, they're americans. and instead of being beholden to grover norquist, and the aarp, they're beholden to the united states of america. those guys are going to take their lumps. >> alan simpson, do you think there's going to be a deal? >> well, my friend erskine, the numbers guys, he does the numbers and i do the color, when he says he doesn't think we're going to get a deal -- let me tell you, he's working every day. he's here. i have to get the morning plane out of cody at 6:00 a.m., get here at 3:30, he's here within an hour and a half away, he sees these people, the presi
, bank america. i'll wear a name tag next time. >> more "fast" at 5:00. >>> "power" starts right now. >> welcome to a special "rise above" edition of "power lunch," live from the nation's capital. the heart of the action today right now on capitol hill, dozens of ceos are working the hallways trying to convince lawmakers to get a deal done and avoid the fiscal cliff. >>> next stop, the white house later this afternoon. good afternoon, everybody. i'm tyler mathisen. it is a big day in this national discussion about how washington can avoid the fiscal cliff. some of the senators in the center of the debate will be stopping by. we may hear from some ceos this hour. we do expect to hear from some of them at a press conference later this hour. the president, by the way, weighed in on the debate this morning as well. sue, a busy day down here in washington. >> it sure is, ty. indeed it is here as well. we are going to be joined by a very special guest, noted author and investor nassem taleb. after dropping more than 100 points in the early going, the dow sittingality the highs of the day.
is a number one priority. he writes supposedly any day now investors will lose faith in america's ability to come to grips with its budgets failures. when they do there will be a run on treasury bonds, interest will spike and the u.s. economy will plunge back into recession. this sounds plausible to many people because it's roughly speaking what happened to greece but we're not greece. he's saying while this is a real dynamic for some countries, it is not because of the way we fund ourselves, is that right, ben? >> that's right. i would say morning munnize not actually by given name. >> i didn't know that. >> he's right, we're not greece, we're a much larger economy. we can grow our way out of debts and deficits. we've got a ginormous economy. we had a huge black friday weekend. probably $600 billion for the total shopping over the holidays. the question is, as we get close and getting into december, if it looks like talks are breaking down and we have the same old lines on no tax increases for the wealthy versus no spending cuts at all on the left on social security or medicare, then you
a pennsylvania toy factory. listen. >> if congress does nothing, every family in america will see their income taxes automatically go up on january 1st. every family, everybody here, you'll see your taxes go up on january 1st. i mean, i'm assuming that doesn't sound too good to you. that is sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> that's pretty scroogy, right? president obama's proposal calls for $1.6 trillion in new tax revenue. $50 billion for new stimulus spending. and about $400 billion in entitlement cuts. republicans say, the president's proposal's nothing but a political stunt. here is boehner. >> the white house spends three weeks trying to develop a proposal and they send one up here that calls for $1.6 trillion in new taxes, calls for a little -- not even $400 billion in cuts, and they want to have this extra spending that is actually greater than the amount they're willing to cut. i mean, it is -- it was not a serious proposal. and so right now we're almost nowhere. >> what we will do is continue to take this as a serious matter. this is no
to break out of the strangle hold, look like it's standing up for america, they will come to the table with the president. >> and one thing that i do think -- i don't know if norquist deserves credit, but i'm struck when i step back and look at where the tax debate is today. both democrats and republicans agree that we should keep 80% of the bush tax rates. bush tax cuts, i'm sorry. it's just the top percent that should change. even democrats today are closer to the bush consensus on taxes than to the clinton consensus on taxes. so do you think this conversation has moved to the right? or were the rates too high for this moment when the middle class is struggling. >> i wouldn't say that a consensus to reduce taxes on the middle class and increase taxes on the rich is a move to the right. it's actually a move to the left. what people are become iing mor sensitive to is inequality of income and wealth and opportunity and power in this country is wider than it has been in about 85 to 100 years. therefore, it's appropriate and necessary to raise taxes on the rich and reduce the tax burden
the pledge, it essentially led to newt gingrich and the contract for america and we have been living in this gingrich contract for america, grover norquist tea party state of the republican party since then and so far, they have only been engaging in what grover called impure thoughts, which i love that's how he thinks of it, but just the very fact they would openly question the pledge is to remarkable because essentially lowers tax rates is the only thing republicans have stood for in recent elections. >> cane was using this very cute trick that republicans first starting using. they started floating this thing about oh, that pledge was made for another congress. i didn't seen it again thr the election that i yus won a year ago or two weeks ago, whatever the case may be and so peter king didn't invent that. >> that's something that grover was rebuffed. you can opt out. >> once you're in, that's it. >> yes. >> but look, the big good news for progressives here, there are two fund mamental values that he driven the economic conversation for republicans in this era. one is deficit is th
changers across america. jim, we love you! come over here! >> bill karins -- oh, no, speaking of -- >> what? >> we call him c.g. for -- >> no, we don't. >> c.g., what do we got? >> now i've got to think of something creative for what c.g. stands for. snow is falling in a few areas this morning, we're looking at new jersey, looks like the suburbs outside philadelphia and new york could see snow. getting ready to treat a lot of those roads. a lot of that eco friendly rock salt. let's show you what's happening on the radar, the pink is where it's a little bit of a mix and the green is the rain. we've set up the boundary line somewhere north of philadelphia and just north of new york city. below that, it's kind of a mix or rainy around philadelphia. little later today, once the colder air moves in, we will see philadelphia changing over to snow. it's not a huge storm, this isn't a big ocean storm, not a nor'easter, a quick event during the daylight hours today. and the temperatures are pretty warm right now. new york city still above 40 degrees, philadelphia near 40, big cities and the airports
and talks about raising taxes on the rich. there is a cob stitch whensy in america says it's the right thing to do. boehner says if we had more re-knew we'll get in a different way. we think raising rates hurts the economy and we'll reduce the deductions to get the same place. but with president obama's road show he doesn't answer the question he brought up in 2010. what are you going to do about entitlements and how would you make it better? i don't think raising retirement age will solve the problem. >> brian: my head will explode. we keep saying we have to balance the budget. the math doesn't add up. number two, go in and roll up the shres and get it done behind closed doors. if the media is frustrated, let them be frustrated. he has to go in and make a deal and give the framework out. he did not -- >> bob: the difference this time around he won. >> brian: i want him to go with speaker boehner. here are my cards and what are yours? >> eric: they did that. they did that at the debt ceiling. here is the deal. you come up with $600 billion. we'll have $600 billion. then president obama wante
the blast which rendered whole blocks uninhabitable. >>> america will never forget the service of its military heroes. president obama delivering that message on veterans day at a wreath laying ceremony at arlington national cemetery. >> on this day we thank all of our veterans from all of our wars, not just for your service to this country, but for reminding us why america and always will be the greatest nation on earth. >> the president also noting this is the first veteran's day in a decade with no american troops serving in iraq. >>> investigators want to know why a 64-year-old man walked into a detroit area police station and opened fire. he shot a 50-year-old sergeant in the shoulder yesterday before officers returned fire and killed him. that sounded sergeant is expected to make a full recovery. >>> holland security chief janet napolitano gets a firsthand look at sandy's aftermath. she surveyed the devastation in staten island, yesterday. she also took stock of relief and recovery efforts there. sandy is blamed for 113 deaths across various states, 43 in new york alone. thousan
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. >> america in the 1930's and 1940's -- the library of congress curator shares some of the 1600 color photographs taken during the depression and world war ii. .nday at 7:00 p.m. on 3. -- c-span 3. >> now, john boehner and house republican leaders talk about fiscal cliff negotiations. he says he is optimistic a deal can be reached with the president. >> morning, everyone. going over the fiscal cliff will hurt our economy and will her job creation in our country. republicans are committed to continuing to work with the president to come to an agreement to avert the so-called fiscal clef. one reason why we believe that we put revenue on the table as long as it is accompanied by serious spending cuts to avert a crisis. we believe this is the president's request for a balanced approach to this issue, and we are going to continue to work with the president to try to resolve this in a way that is fair for the american people. we all now that we have had the spending crisis coming at us like a freight train. it has to be dealt with. in order to try to come to an agreement, republicans are wi
. >>> america will never forget the service of its military heroes. president obama delivering that message on veterans day at a wreath laying ceremony at arlington national cemetery. >> on this day we thank all of our veterans from all of our wars, not just for your service to this country, but for reminding us why america and always will be the greatest nation on earth. >> the president also noting this is the first veteran's day in a decade with no american troops serving in iraq. >>> investigators want to know why a 64-year-old man walked into a detroit area police station and opened fire. he shot a 50-year-old sergeant in the shoulder yesterday before officers returned fire and killed him. that sounded sergeant is expected to make a full recovery. >>> holland security chief janet napolitano gets a firsthand look at sandy's aftermath. she surveyed the devastation in staten island, yesterday. she also took stock of relief and recovery efforts there. sandy is blamed for 113 deaths across various states, 43 in new york alone. thousands are still without power. >>> sunday night football act
why. ♪ >> america is honoring our troops were every brush stroke, we're going to talk to this artist. come out and meet him. ♪ i was born free in america tay we're running out of a vital resource we need to compete on the global stage. what we need are people prepared for the careers of our new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them. that's why at devry university, we're teaming up with companies like cisco to help make sure everyone is ready with the know-how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at devry.edu/knowhow. ♪ >> welcome back. a rare earthquake shook kentucky and was felt in at least eight other states. the 4.3 magnitude quake was centered near kentucky's border with virginia. no one was hurt. and some of our wounded warriors, honored with the gift of flight. the heroes event in texas saw 20 injured vets and skydiving as a way to relax and forget about the hardships of war, ali. >> national guard 101 accepted the spouses of national guardsmen navigate mili
to former u.n. ambassador john bolton. he will be here in "america's newsroom" just a few minutes away. we'll ask him what he believes she should be asked this morning by the senators. that is coming up. >>> there are some new concerns today that president obama and republicans may not be able to strike a deal that would avoid that potentially devastating fiscal cliff that is looming over the u.s. economy right now. the president is meeting with small business owners at the white house today. he had a series of meetings with different business leaders over the last week. despite the warnings that the talks are stalling on capitol hill stuart varney joins me now, host of "varney & company" on fox business network. >> good morning, martha. bill:. martha: what are you hearing how this is going? >> it is impasse basically. the republicans said yesterday they accommodated the democrats they will agree to get more money from wealthy people from higher taxes but mitch mcconnell, senate republican leader, he says there has been no similar compromise from the democrats or the president. he says the
romney has finally captured 47% of america. remember this video that sunk the romney campaign? >> there are 47% of the people who will vote for the president no matter what. 47% who are with him, who are dependent upon government, who believe they are victims, who believe the government has a responsibility to care for them. >> well, the cook report points out romney shared a popular vote of this country has fallen to, you guessed it, 47.4%. as expected to fall further, and settle at the 47 mark, exactly. we'll be right back. >>> welcome back to "hardball." following an election in which republicans overwhelmingly lost african-americans, latinos and women generally you think a picture like this, look at it, would be something republicans would want to try to avoid. yet these are the faces of the house committee chairman, men, selected by the republican party. i guess there's a little diversity there. white man with brown hair, white man with blond hair, old white guy, young white guy. do the republican party people in charge of the house, for example, did they learn anything f
and buybacks and every time they buy back shares, the intangible book value goes up. and bank of america was one of those stocks hit very, very hard within the financial sector in yesterday's selloff. down 7%. that was the steep decline. this call this morning, very bullish. $18 a share by 2015. >> i know. wow. >> 18 bucks. when's the last time it was $18? >> 2000. >> 2007. i don't know. >> i think it was -- went up there in 2010 before it slid down and senator-elect warren is an important figure in terms of getting headlines. she is compelling. she is able to make a lot of noise but she doesn't i think in the end control regulatory regime and put in place. she's just able to back and very effective barber by the way. >> right. >> if that dynamic changes then banks have to recompute, right? right now she is a figurehead of sorts. >> yesterday isn't that the recomputation of the banks? warren was voted in and a sentiment there needs to be or a desire for increased regulation of banlgs and not dodd-frank but elizabeth warren elected to the senate. >> she is a wild card. i was bashing her r
feel a stance. people who feel they are able to teach america a lesson to go over the cliff. the cliff jumpers feel very strongly that they are doing the right thing. while i favor the first amendment, i think it's an important way to be able to discuss things. i cannot -- there's a discussion that says it's great if we jump at of fiscal cliff with the data of what happens so there are people that support jumping off the fiscal cliff as a way to teach america a lesson. >> there will be people that will discuss it every day and people in this markets are focused on it. it's a negotiation. as such even though it will take place in the public realm to a certain extent, we're going to just have to wait. there are those -- i think wall street in some ways seems to be more positive perhaps than the broader populous about the possibility of a deal. it does make sense that a deal will take place. we know that debt levels are unsustainable when you look into the future. we also know that we have a tax regime that needs to be fixed. we know that we're spending too much. we know a lot of those th
of america is at the nasdaq. right now apple looks to open lower initially. at&t is beginning to sell the new ipad mini and the ipad 4. we could see some numbers. >> it's always fun to see all of the new ipad applications. there's a terrific article in "usa today" talk about how shoppers use it. they give you coupons. nice company where they are trying to interact with the people. they help retailers interact with people in the store and give you coupons. this is again another growth business. >> paypal very involved in that. the ceo has talked a lot about that. the ability of merchant to know who is in the store at any given moment. >> one day we'll look back and say why are they putting inserts -- one of the worst jobs i had in my career was putting inserts into the sunday papers. >> i've done that too. i've done that too. i used to assemble "the new york times" when my parents owned a drugstore when i was growing up. my sister and i would assemble the "times" and put it in the news section the next morning. >> that was valuable thing. money saving coupons. >> exactly. >> money saving coupo
it doesn't work on windows. okay, i'm outta here. more dishwasher brands in north america recommend cascade. >>> welcome back to "weekends with alex witt." another republican is speaking out against grover norquist's anti-tax increase. this time it's lindsey graham. >> when you're $16 trillion in debt, the only pledge we should be making is republicans should put revenue on the table. we're this far in debt. we don't generate enough revenue. capping deductions will help generate revenue. i think grover is wrong when he says we can't cap deductions and buy down debt. what do you do with the money? i will violate the pledge only if the democrats will do entitlement reform. >> publisher and former pennsylvania governor ed rendell. hello, guys. good to see you both. >> and to you. both of you. rich, your party has been doing a lot of soul searching and you just heard lindsey graham going against grover norquist's tax pledge. >> well, what they have come to understand, i think, is and lindsey graham said he's not in favor of raising rates but in favor of cutting deductions and exemptions. >> if
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chambliss says he cares more about america and the fiscal mess we're in than he does his pledge to grover norquist. he's ready to deal with democrats who want to raise the tax rate of the richest 2%, but ep everyone else pretty much the same. again, the deadline is january 1st. no deal in washington and we'll all be looking at increased taxes, just as holiday expenses come due. let me bring in my guest here to talk us through all the possible scenarios, bob cusack, good to have you back on the show, managing editor of "the d.c. journal the hill." let's do a little refresher. who is grover norquist, talk to me about this pledge. it is not just about raising taxes, is it not? >> it is not just about raising taxes. this is a pledge that is spearheaded by activist grover norquist, a popular figure on the right and he basically is -- most members but not all members of congress on the republican side to sign this pledge which basically says they're not going to increase tax rates and also if they close deductions they would use that money to lower taxes in another area. after seeing republican
] the bankamericard cash rewards card. apply online or at a bank of america near you. with odor free aspercreme. powerful medicine relieves pain fast, with no odor. so all you notice is relief. aspercreme. >>> welcome back to "early start." 12 minutes past the hour. it is a busy morning across the middle east. egypt's president meets today with that nation's highest judicial body. it is an attempt by mohamed morsi to explain the extraordinary powers that he granted himself on thursday, which some judges have called an unprecedented attack on the judiciary. among the moves morsi decreed, judges cannot overturn any decision that he makes, or law that he imposes, until a parliament is formed. thousands of egyptians have taken to the streets in protest. many accusing president morsi of an all-out power grab. calling him a dictator. this internal unrest is happening as representatives from israel and hamas are in cairo for separate cease-fire talks with the egyptians. helped broker an end to the fighting last week between those two sides. israel's defense minister ehud barak just announced his res i
's the heartbeat of america. you are the heartbeat of america here. the economic heartbeat. >> major general, thank you for your service as well. >> sergeant johns, great american. >> enjoy the day. >> thanks. >> melissa, over to you. >> thanks, carl. up next, look out saudi arabia, a new report says the united states will become the world's top oil producer. could the prediction come true? we have a top oil analyst to weigh in. apple is taking competitors to task over its patents but today apple calls a truce with another smartphone maker. we'll be right back. i have a cold, and i took nyquil, but i'm still stubbed up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] alka-seltzer plus liquid gels speeds relief to your worst cold symptoms plus has a decongestant for your stuffy nose. thanks. that's the cold truth! having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and my daughter loves the santa. oh, ah sir. that is a customer. let's not tell mom. [ male announcer ] break from the holiday stress. fedex office. >> what i'
and counting. will america go over the $7 trillion fiscal cliff? >>> online retailers are getting a head start this season, competing for your money as well. we'll look at how facebook is joining in on the holiday fun. >>> and the drug culture of the '60s and '70s is still impacting baby boomers. some are calling it the generation's hidden crisis. we'll explain. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use. it's the ultimate combination of speed, small size, and low-cost printing. washington next week with just over a month to work out a deal to avoid falling over the so-called $7 trillion fiscal cliff. it would have a combination of t defense cuts, expiration of the pay roll tax holiday, and cuts in unemployment benefits. all those things are considered. joining us now is alex. it's good to see you. >> good to see you, fredricka. >> before we get to that fiscal cliff, let's talk about one of th
're focused on. the head of israel's central bank will weigh in on that and america's fiscal mess. he's with me exclusively coming up. >> looking forward to that. >>> plus, we'll head thrive israel for the latest on efforts to end the seven days of fighting coming up. >>> if you were not with us earlier today, fed chairman bernanke said that the fed does not have the tools to offset the worst case scenario of going over the fiscal cliff. >> his comments earlier, the market really impacted by his comments about the fiscal cliff before rebounding. as soon as mr. bernanke said they are out of tools and it's on congress, the dow went from down 17 points to down 70. since then, we have come all the way back. now we're down 24. look at this intraday chart. >> is there a floor under this market? i want to show you something. i was reading in the car coming down here today. this is the latest "time" magazine. this is an article in this week's issue that wonders why stocks are dead. why didn't they put it on the cover? that would have been the perfect contrary indicator. they ponder whether st
east texas, and right now going on in america is the biggest renaissance in oil since 1930. it's the shale boom. and all this oil is producing huge new revenues for the feds and also enormous power for obama. of course, he's going to use that power and all that leverage to propel himself into a third term. >> of course, stansberry's prediction has one gaping hole, the 22nd amendment. quote, no person shall be elected to the office of the president more than twice. we heard a lot of anti-obama conspiracies. this could be the tipping point. >>> up next, a growing number of republicans say they're willing to end their no tax pledge to grover norquist. the trouble is, only one is in the house of representatives where the deal with the white house will be made. that's ahead. this is "hardball," the place for politics. >>> here's what's happening. republican new jersey governor chris christie plans to seek a second term. he filed papers with election officials earlier. a formal announcement is expected in january. >>> in egypt, another protest is planned for tomorrow. many are angry
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moneymaker for the stores. i've got relatives here from central america who are here to go fight over a $4 poster they probably don't even need. you know, i actually am not a fan of these commercial holidays, if you like, because i think it takes away a bit from the thought of just yesterday we were all about family and friends and giving thanks. and now we're all fighting with each other, duking it out over tickle me elmo. so i think we need to put the focus back where it is. that being said, we're in a tough economy. if this gets people spending the money and getting the economy churning, it's all good. to each his own. >> maria, i really think one day soon that retailers will just remain open 24/7 even on holidays because they need to get people into the stores to buy, buy, buy. >> i guess that might be the case, carol, but i hope not. i guess in this recession and clugish recovery it is a good thing. it's not so good for family unity. but i got to tell you. coming off of a political campaign where people were so sick of all the political ads, how long did it take me to get sick of the
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